Proposed H.B. No. 5072
Session Year 2024
 


AN ACT CONCERNING PERSONAL INCOME TAX DEDUCTIONS FOR SENIORS.

To require that, for seniors, (1) the qualifying income threshold for any personal income tax deduction be indexed to reflect the rate of inflation, and (2) the personal income tax deduction for any distribution from certain individual retirement accounts be effective for taxable years commencing on or after January 1, 2024, in lieu of the current phase-in schedule.

Introduced by:
Rep. Bill Buckbee, 67th Dist.

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Bill History

 Date Action Taken
 2/9/2024Referred to Joint Committee on Finance, Revenue and Bonding

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